Yes, the mod is officially cancelled now. I started this project when I was 13, and the project actually began development somewhere around mid April of 2019. It has taught me a lot and I believe it's done a lot of good.
So why it it cancelled? Simply due to lack of interest. We personally want to work on more unique projects. Here's a detailed explanation: I'd argue that the only Portal 1 mod that stands out is Blue Portals due to its unique style, the rest of the mods do to tend to have unique things about them, sure, and Floccinauci does to, but I wouldn't call these mods "unique". Portal: Zero Point Energy, the mod BoxFigs is the head of, is going to have the gravity gun, and I've worked on Portal: Cooperative, which is a Portal 1 Coop mod. These stand out more than something like Floccinauci since they basically change the fundamentals of the gameplay, and while Portal: Cooperative is basically done, I've been working on projects that I find more interesting than Floccinauci.
The mod does have a lot of content and was over half-way done, so we will be releasing the latest version of Floccinauci. I also have every single build archived, so if requested, I can release all of these versions too.
This was also kinda the same reason why I cancelled Uninsulated Electrical Parts. Even though it explored a bit into the Beta aesthetic, i lost interest in it from just burnout.